2. A lso decides that, notwithstanding regulations 11.1 and 11.4 of the Financia! Regulations of the United Nations, the Exccutivc Director of thc United Nations Environment Programme shall maintain the accounts of the Fund of thc United Nations Environment Programme and shall be responsiblc for presenting the accounts thereof, not latcr than 31 March following the end of the financia1 period, to the Board of Auditors, and for submitting financia! rcports to the Governing Council of the Programme and to the General Assembly.